The Government has withdrawn from the Munyonyo Commonwealth Resort project after they had, in principle, decided to pull out its investments in all CHOGM hotels.

In 2005, government which paid sh13.3b as its contribution to a joint venture with Meera Investments, owned by Sudhir Ruparelia, to construct a hotel at Munyonyo to host heads of state during the Commonwealth summit, which money amounts to 25% shares in the project.
Government pulled out saying that continuation in the project would cause a loss.“This venture would have turned into a burden rather than a profit- making project” said Committee chairman Nandala Mafabi.

The government is however yet to enter into negotiations of how the money will be paid.

By Kisibo Jackie
Uganda News